The Queensland treasury has told bauxite miner Metro Mining that it would not exercise its veto rights for a A$47.5-million loan facility from the Northern Australia Infrastructure Fund (NAIF), paving the way for the facility to reach financial close.
The NAIF last year offered ASX-listed Metro Mining a A$47.5-million loan to fund its Stage 2 expansion of the Bauxite Hills mine, in Cape York.